John Bicket Sells 170,000 Shares of Samsara Inc. (NYSE:IOT) Stock

Samsara Inc. (NYSE:IOT - Get Free Report) insider John Bicket sold 170,000 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $39.42, for a total transaction of $6,701,400.00. Following the transaction, the insider now owns 367,642 shares in the company, valued at approximately $14,492,447.64. This represents a 31.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

John Bicket also recently made the following trade(s):

• On Wednesday, June 4th, John Bicket sold 33,713 shares of Samsara stock. The shares were sold at an average price of $46.46, for a total transaction of $1,566,305.98.
• On Tuesday, June 3rd, John Bicket sold 136,287 shares of Samsara stock. The shares were sold at an average price of $46.03, for a total transaction of $6,273,290.61.
• On Thursday, May 22nd, John Bicket sold 52,573 shares of Samsara stock. The shares were sold at an average price of $46.25, for a total transaction of $2,431,501.25.
• On Wednesday, May 21st, John Bicket sold 63,279 shares of Samsara stock. The stock was sold at an average price of $46.54, for a total transaction of $2,945,004.66.
• On Tuesday, May 20th, John Bicket sold 54,148 shares of Samsara stock. The stock was sold at an average price of $47.33, for a total transaction of $2,562,824.84.

Samsara Stock Down 0.2%

Shares of NYSE IOT traded down $0.07 during trading on Friday, hitting $39.65. The company had a trading volume of 29,766,551 shares, compared to its average volume of 3,950,035. The stock has a fifty day simple moving average of $42.56 and a two-hundred day simple moving average of $44.01. Samsara Inc. has a fifty-two week low of $31.40 and a fifty-two week high of $61.90. The firm has a market capitalization of $22.57 billion, a price-to-earnings ratio of -180.23 and a beta of 1.74.

Samsara (NYSE:IOT - Get Free Report) last announced its earnings results on Thursday, June 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. Samsara had a negative net margin of 9.04% and a negative return on equity of 11.14%. The business had revenue of $366.88 million for the quarter, compared to analyst estimates of $351.44 million. During the same quarter last year, the business earned $0.03 earnings per share. The company's revenue for the quarter was up 30.7% compared to the same quarter last year. On average, analysts anticipate that Samsara Inc. will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

IOT has been the subject of several recent research reports. Cowen reissued a "buy" rating on shares of Samsara in a report on Friday, March 7th. BMO Capital Markets raised their target price on shares of Samsara from $48.00 to $54.00 and gave the stock an "outperform" rating in a report on Monday, June 2nd. Morgan Stanley reduced their target price on shares of Samsara from $56.00 to $50.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Evercore ISI set a $45.00 target price on shares of Samsara in a report on Wednesday. Finally, Craig Hallum reissued a "hold" rating on shares of Samsara in a report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $50.64.

Hedge Funds Weigh In On Samsara

Institutional investors and hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new position in Samsara during the fourth quarter worth about $431,000. Charles Schwab Investment Management Inc. boosted its position in Samsara by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,876,944 shares of the company's stock worth $82,004,000 after acquiring an additional 47,911 shares during the last quarter. Wells Fargo & Company MN boosted its position in Samsara by 101.4% during the fourth quarter. Wells Fargo & Company MN now owns 129,176 shares of the company's stock worth $5,644,000 after acquiring an additional 65,028 shares during the last quarter. Renaissance Technologies LLC boosted its position in Samsara by 30.4% during the fourth quarter. Renaissance Technologies LLC now owns 764,300 shares of the company's stock worth $33,392,000 after acquiring an additional 178,102 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Samsara by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company's stock worth $916,555,000 after acquiring an additional 863,197 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

About Samsara

Samsara Inc provides solutions that connects physical operations data to its connected operations cloud in the United States and internationally. The company's Connected Operations Cloud includes Data Platform, which ingests, aggregates, and enriches data from its IoT devices and has embedded capabilities for AI, workflows and analytics, alerts, API connections, and data security and privacy.